花旗：上调中银香港目标价至49.7港元 维持“买入”评级

Core Viewpoint - Citigroup has updated its forecast model for Bank of China Hong Kong (02388) based on the performance in the second half of last year, raising its earnings per share predictions for 2026 to 2028 by 8%, 3%, and 5% respectively, primarily due to a decrease in impairment expenses and an increase in net interest income, with the target price adjusted from HKD 47.6 to HKD 49.7, maintaining a "Buy" rating [1][2]. Summary by Category - Earnings Forecast - Citigroup raised the earnings per share forecast for Bank of China Hong Kong for 2026, 2027, and 2028 by 8%, 3%, and 5% respectively [1][2]. - Key Drivers - The adjustments in earnings forecasts are mainly attributed to a decline in impairment expenses and an increase in net interest income [1][2]. - Target Price Adjustment - The target price for Bank of China Hong Kong has been increased from HKD 47.6 to HKD 49.7, while maintaining a "Buy" rating [1][2].